Jefferies Financial Group Inc. Purchases Shares of 71,389 Edgewise Therapeutics, Inc. $EWTX

Key Points

• Jefferies Financial Group acquired 71,389 shares of Edgewise Therapeutics in the second quarter, worth approximately $2.9 million and representing about 0.07% of the company. Several other institutional investors also initiated or increased positions.
• Edgewise shares opened at $42.76, down 3.2%, with a market capitalization of roughly $4.64 billion. The company reported a quarterly loss of $0.53 per share, missing analysts’ $0.47-per-share loss estimate.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $50.33. However, insiders sold $9.56 million of stock during the last quarter, largely to cover tax obligations tied to equity awards.

Jefferies Financial Group Inc. acquired a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 71,389 shares of the company's stock, valued at approximately $2,901,000. Jefferies Financial Group Inc. owned about 0.07% of Edgewise Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of EWTX. Parallel Advisors LLC raised its position in shares of Edgewise Therapeutics by 64.9% during the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company's stock worth $33,000 after purchasing an additional 406 shares during the period. KBC Group NV purchased a new stake in shares of Edgewise Therapeutics during the first quarter valued at $49,000. Seven Fleet Capital Management LP acquired a new position in shares of Edgewise Therapeutics in the 4th quarter valued at $50,000. Jones Financial Companies Lllp acquired a new position in shares of Edgewise Therapeutics in the 1st quarter valued at $47,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Edgewise Therapeutics by 23.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company's stock worth $71,000 after purchasing an additional 550 shares in the last quarter.

Edgewise Therapeutics Stock Down 3.2%

Edgewise Therapeutics stock opened at $42.76 on Friday. Edgewise Therapeutics, Inc. has a 12 month low of $13.69 and a 12 month high of $48.40. The stock has a market cap of $4.64 billion, a P/E ratio of -23.11 and a beta of 0.30. The company's fifty day simple moving average is $42.00 and its 200-day simple moving average is $35.71.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). On average, equities research analysts expect that Edgewise Therapeutics, Inc. will post -2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Edgewise Therapeutics in a report on Friday, July 17th. Oppenheimer assumed coverage on shares of Edgewise Therapeutics in a report on Thursday, July 9th. They issued an "outperform" rating and a $51.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $45.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, June 16th. The Goldman Sachs Group upped their price target on Edgewise Therapeutics from $32.00 to $36.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Finally, Evercore reaffirmed an "outperform" rating and set a $55.00 target price on shares of Edgewise Therapeutics in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Edgewise Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $50.33.

Insider Transactions at Edgewise Therapeutics

In related news, CEO Kevin Koch sold 17,971 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $43.68, for a total value of $784,973.28. Following the completion of the sale, the chief executive officer owned 52,488 shares of the company's stock, valued at approximately $2,292,675.84. The trade was a 25.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alan J. Russell sold 5,901 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $43.73, for a total value of $258,050.73. Following the completion of the transaction, the insider owned 31,466 shares in the company, valued at $1,376,008.18. This represents a 15.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 238,329 shares of company stock valued at $9,557,529 in the last quarter. Corporate insiders own 21.30% of the company's stock.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc NASDAQ: EWTX is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise's pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.

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